Markets

Domestic Bourse Sustains Positive Streak

The equities market maintained a positive performance at the close of trade on Tuesday as price upticks in GUARANTY (+1.1%), UBN (+4.5%) and ZENITH (+0.8%) drove the benchmark index 14bps higher to 32,173.66 points. Consequently, market capitalisation increased by N16.3bn to N12.0tn while YTD return improved to 2.4%. Activity level also strengthened as value and volume traded advanced by 32.5% and 75.8% to N3.5bn and 400.5m units respectively.

Inclusive government will expedite a rebound in capital market

A capital market watcher, Boniface Okezie, has said that inaugurating an inclusive government will expedite a rebound of the capital market.

Mr Okezie, President, Progressive Shareholders Association of Nigeria, said this in an interview in Lagos yesterday, the Voice of Nigeria reports.

He said that inaugurating an all inclusive government would douse the acrimony in the country and lead to harmony.

Bullish Performance at the Exchange

The local bourse rebounded in Tuesday’s trading session, as the All Share Index (ASI) rose 0.7% to 32,406.18 points due to buying interests in bellwether stocks - ZENITH (+5.6%), GUARANTY (+3.3%) and UBA (+4.6%). Consequently, market capitalisation increased N80.6bn to N12.1tn while YTD gain settled at 3.1%. Activity level also strengthened as volume and value traded improved 55.4% and 23.7% to 361.8m units and N4.2bn respectively.

Stock Market Extends Winning Streak

The domestic bourse opened the week on a positive note, extending gains from the previous week on the back of price appreciation in ZENITH (+2.3%), UBA (+4.6%) and UNILEVER (+5.4%). As a result, the All Share Index (“ASI”) inched 0.8% higher to 31,781.87 points, YTD performance improved to 1.1% while market capitalisation increased by N94.0bn to N11.9tn. On the other hand, activity level weakened as average volume and value traded declined by 24.0% and 53.7% respectively to 550.2m units and N5.6bn respectively.

Domestic Bourse Performs Positively

The market performed positively this week, as investors took positions in GUARANTY (+14.7%), ACCESS (+9.0%) and FBNH (+8.8%). Thus, the All Share Index rose 2.9% W-o-W to 31,529.9 points, YTD performance settled at 0.3% while market capitalization rose by N333.5bn to N11.8tn. Activity level also improved as average volume and value traded advanced 31.2% and 31.8% W-o-W to 378.4m units and N5.4bn respectively.

Sustained bargain hunting in bellwethers drive index up

The domestic bourse performed positively at the close of trade today due to sustained bargain hunting in bellwethers - NESTLE (+2.8%), GUARANTY (+1.8%) and ZENITH (+0.2%). As a result, the All Share Index (ASI) advanced 16bps to 30,821.80, market capitalization increased by N18.0bn to N11.5tn while YTD loss marginally improved to -1.9%. Activity level also improved as volume and value traded rose 88.3% and 65.0% to 358.3m units and N4.8bn respectively.

Weekly Economic and Market Report

According to Eurostat, annual inflation rate in the Euro Area came in at 1.6% in Dec. 2018, unchanged from the preliminary estimate and below November's final reading of 1.9%. It was the lowest rate since April. According to the details, the super-core inflation – the prices that are responsive to the business cycle – continued to pick up and came in at 1.4% y/y in December. Annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco stood at 1.0%, the same as in November.

Gaining Streak Sustained into 6th Consecutive Session

The gaining streak in the local bourse was sustained into Thursday’s trading session as buying interest in DANGCEM (+1.1%), NIGERIAN BREWERIES (+1.0%) and ETI (+2.2%) drove the All Share Index 0.4% northwards to 30,583.21 points. As a result, YTD loss moderated to -2.7% while market capitalization increased by N45.7bn to N11.4tn. Activity level also remained mixed as volume traded declined 24.4% to 231.2m units while value traded advanced 55.2% to N11.4bn.

Bullish Run Persists at the Exchange

The bullish run on the market was sustained into the 5th consecutive session on Wednesday  as the All Share Index (ASI) rose 1.1% to 30,460.68 points driven by price appreciation in DANGCEM (+4.4%), GUINNESS (+9.7%) and UBA (+2.1%). Consequently, YTD loss moderated to -3.1% while market capitalisation increased by N120.5bn to N11.4tn. Activity level was however mixed as volume traded increased 1.9% to 305.8m units while value traded declined 35.3% to N2.1bn.

Local Bourse Posts Gains for the 4th Consecutive Session

The local bourse maintained an upward trend on Tuesday, posting gains for the 4th consecutive session due to buying interest in ZENITH (+0.7%), DANGSUGAR (+3.9%) and STANBIC (+2.9%). Consequently, the All Share Index rose 58bps to 30,137.53 points, YTD loss moderated further to -4.1% while market capitalisation increased by N64.4bn to N11.2tn. Activity level also strengthened as volume and value traded surged 126.7% to 300.1m units and 199.2% to N3.2bn.

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